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NATO leaders will unveil tens of billions of dollars in arms deals at a defence industry forum in Ankara on July 7, 2026, before President Trump joins the summit. The announcements aim to demonstrate European commitment to increased defence spending amid Trump's renewed criticism of NATO allies and fears he could abandon mutual defence commitments. The move comes as NATO's European members increased defence spending by $90 billion (20%) in 2025 to over $570 billion total.

• Netherlands will announce over €3 billion in deals including partnerships with Belgium on air defence and Britain on naval ships
• NATO plans to replace its ageing U.S.-built AWACS surveillance fleet with Sweden's Saab GlobalEye aircraft
• Trump has criticized NATO allies for insufficient support during the U.S.-Iran war and has announced troop withdrawals from Europe and a six-month review of military presence on the continent

NATO leaders are set to announce tens of billions of dollars in arms deals in Ankara on July 7, 2026, ahead of a summit with President Trump, demonstrating increased European defense spending in response to U.S. pressure and Russian threats. The showcase aims to address Trump's longstanding criticism that European nations over-rely on American military protection and comes amid renewed tensions after Trump suggested he could quit NATO or ignore mutual defense commitments.

• European NATO members and Canada increased defense spending by approximately $90 billion in real terms in 2025 (reaching over $570 billion total), representing a 20% year-over-year increase driven by fears of Russia and Trump's pressure
• The Netherlands will announce over €3 billion in defense deals, while NATO plans to replace its aging AWACS fleet with Sweden's Saab GlobalEye aircraft, and Canada selected Germany's TKMS to build up to 12 submarines
• Trump is expected to tell Turkey's Erdogan he may allow the country to rejoin the F-35 stealth fighter program, reversing sanctions imposed after Turkey's 2019 acquisition of Russian S-400 air defense systems

WiseTech Global co-founder Richard White stepped down as executive chair effective immediately, with Raelene Murphy appointed as independent chair. White cited 'recent personal media attention' as creating an unnecessary distraction, while strenuously denying media allegations and expressing concern about potential short-selling activity. The leadership change comes amid reported media allegations concerning White in his personal capacity.

• Raelene Murphy, who joined the board in early 2026 and became lead independent director in May, takes over as independent chair
• White denies media allegations and warns that personal attacks 'unconnected to company performance' could encourage short-selling activity
• RBC Capital Markets notes the board improvements are positive but the market will likely want evidence of independent operations before any meaningful re-rating

Two Japanese-owned supertankers carrying Saudi Arabian crude oil are heading to exit the Persian Gulf through the Strait of Hormuz, following six vessels that departed a day earlier. The movement will bring the total volume of crude aboard Japan-linked vessels exiting the strait this week to 16 million barrels, reducing the amount of oil that had been stranded inside the Gulf since late February and early March.

• Two tankers owned by Nippon Yusen and Kawasaki Kisen, each carrying 2 million barrels of Saudi crude loaded on March 1, are joining the exodus
• Six very large crude carriers with 12 million barrels of Middle Eastern crude, mostly managed by Mitsui O.S.K. Lines, exited on Monday along with other vessels
• The vessels had been stranded in the Gulf for approximately four months, with cargoes loaded between late February and early March

Samsung Electronics forecast a 19-fold increase in Q2 operating profit to 89.4 trillion won ($58.44 billion), surpassing analyst expectations. The surge was driven by AI-fueled demand that continued to boost memory chip prices. Revenue is expected to rise 129% year-over-year to 171 trillion won.

• Q2 operating profit estimated at 89.4 trillion won, beating the LSEG SmartEstimate of 87.3 trillion won and up from 4.7 trillion won a year earlier
• Revenue projected to increase 129% to 171 trillion won compared to the prior year period
• AI-driven demand for memory chips continued to drive pricing power for the world's largest memory chipmaker

Vista Equity Partners and Quinti Capital have submitted an offer to acquire French adtech company Criteo at a premium exceeding 50% above its recent trading price. The U.S.-listed, Paris-based company, which specializes in AI-driven digital advertising and retail media services, has not yet decided how to respond to the takeover approach.

• The acquisition offer was submitted last week and values Criteo at more than a 50% premium to its recent stock price
• Criteo provides digital advertising and retail media services using data and AI to help brands target shoppers and drive online sales
• The company has not yet made a decision on how to respond to the takeover proposal from the private equity consortium

Toyota announced a $3.6 billion investment to relocate Tacoma midsize pickup truck production from its Tijuana, Mexico plant to its San Antonio, Texas manufacturing campus by 2030. The expansion will create 2,000 U.S. jobs, add a second assembly line, and nearly double the plant's size while increasing annual capacity from 200,000 to 350,000 units. This move aligns with Toyota's broader plan to invest $10 billion more than previously expected in U.S. manufacturing through 2030.

• The investment reverses a 2018 decision to move Tacoma production from Texas to Mexico, coming shortly after the Trump administration opted not to extend its trade agreement with Canada and Mexico
• The expanded San Antonio facility will produce Tacoma trucks alongside the Tundra full-size pickup, Sequoia SUV, and components from a new rear axle plant opening in fall 2025
• Toyota's increased U.S. production capacity could help it overtake GM as America's top-selling automaker, with Toyota sales up 5.2% to 1.24 million vehicles in H1 2025 while GM declined 6.8% to 1.34 million

A federal judge in San Francisco rejected Elon Musk's attempt to overturn a jury verdict that found he defrauded Twitter investors. U.S. District Judge Charles Breyer also denied Musk's motion to decertify the investor class and granted the investors' request for prejudgment interest. The ruling upholds the fraud verdict against the world's richest person.

• Judge Charles Breyer denied all of Musk's post-verdict motions, including his bid to dismiss the fraud verdict and decertify the investor class
• The court granted investors' motion for prejudgment interest, potentially increasing the financial damages owed
• The case involves fraud claims related to Twitter investors, with the jury verdict now standing against Musk

Swedish fintech Klarna has applied to establish an FDIC-insured bank subsidiary in Utah, marking a strategic shift beyond its buy now, pay later business model toward becoming a broader consumer bank. The move reflects a growing trend among fintech firms to own bank charters rather than rely on third-party banking partners, allowing them to bring operations in-house and fund loans with customer deposits.

• A bank charter would enable Klarna to fund loans with customer deposits instead of expensive wholesale financing, expand traditional banking products, and reduce dependence on partner banks
• The application follows Klarna's recent launch of high-yield savings accounts to U.S. customers and comes after fintech Mercury received conditional approval for its own bank charter in April
• Klarna, which went public in September, is currently trading at about half of its IPO price

Microsoft is laying off 4,800 employees (2.1% of its workforce) through fiscal 2027, with its Xbox division bearing the brunt at 3,200 cuts representing 20% of Xbox staff. The reductions come as Microsoft trails megacap peers with a 19% stock decline in 2026 amid investor concerns that generative AI may displace enterprise software while Microsoft's own AI offerings struggle to gain traction.

• Xbox is executing a year-long restructuring through fiscal 2027, spinning off four gaming studios including Compulsion Games, Double Fine Productions, Ninja Theory, and Undead Labs
• Over one-third of eligible U.S. employees accepted Microsoft's first-ever voluntary retirement program introduced in April 2026, targeting senior directors and below
• Despite AI concerns driving the layoffs, Microsoft's Chief People Officer stated AI is not directly replacing workers but is changing how work gets done, requiring employees to adapt and learn new skills

President Donald Trump will ring the opening bell from the White House Oval Office alongside the NYSE and Nasdaq for the first time ever, marking the launch of 'Trump Accounts.' These new tax-advantaged investment vehicles are designed for U.S. children age 18 and younger, with babies born between 2025-2028 receiving a one-time contribution from the U.S. Treasury Department.

• CEOs attending the event include Dell's Michael Dell, Visa's Ryan McInerney, and Robinhood's Vlad Tenev, who called the accounts potentially 'life changing'
• Investor Brad Gerstner, a proponent of the accounts, stated they 'make real the promise of the American dream, not for some but for everybody'
• This marks the first time the stock market opening bell has been rung from the White House Oval Office

Micron Technology and Ford Motor signed a long-term semiconductor supply agreement on July 6 to secure memory and storage platforms for Ford's next-generation vehicles. This follows a similar deal with General Motors and is part of Micron's expansion of U.S. manufacturing, including DRAM production in Virginia. The agreement addresses growing demand for memory chips in vehicles as advanced driver assistance and infotainment systems become more prevalent.

• DRAM prices have surged approximately 70% since December due to high demand from AI-powered data centers, intensifying competition for chip supply among automakers
• Micron has outlined 16 supply agreements in its third quarter, with the Ford and GM deals representing key automotive partnerships
• Memory chips are increasingly critical for vehicle production as cars become more data-intensive with advanced driver aid systems and power-hungry infotainment features

Tencent Mobility, a unit of Tencent Holdings, is seeking to raise up to $1.55 billion through the sale of shares in Kuaishou Technology, a Chinese short-video platform. The deal represents a significant divestment by Tencent of its stake in the video-sharing company.

• The share sale is being conducted by Tencent Mobility, a subsidiary of the Chinese tech giant Tencent Holdings
• Kuaishou Technology is a major Chinese short-video platform that competes with ByteDance's Douyin
• The transaction could raise up to $1.55 billion, representing a substantial stake sale in the video service operator

Broadcom and Apple have extended their chip supply partnership through 2031, expanding their collaboration on custom semiconductor development. The deal secures Broadcom's role as a key supplier of RF chips, Wi-Fi, Bluetooth, and networking components for Apple products, particularly iPhones. Apple represents one of Broadcom's largest customers and accounts for a major portion of the chipmaker's annual revenue.

• The extended partnership runs through 2031 and covers development and supply of custom chips including radio frequency components, Wi-Fi, Bluetooth, and networking semiconductors used in iPhones
• Apple is one of Broadcom's largest customers, with analysts estimating the iPhone maker contributes a major chunk of Broadcom's annual semiconductor business revenue
• The deal strengthens Broadcom's long-standing supplier relationship with Apple and secures a critical revenue stream for the chipmaker's semiconductor division

Volkswagen CEO Oliver Blume faces a critical test on July 9 as the supervisory board reviews a major restructuring plan proposing approximately 50,000 additional job cuts and four factory closures. The plan faces strong opposition from labor unions, who hold most supervisory board seats, as VW struggles to compete with cheaper Chinese rivals. This marks Blume's second restructuring attempt in under two years, with analysts estimating only a 50-50 chance of success.

• The proposed cuts would add to 50,000 job reductions already planned, exceeding a 2023 restructuring that cut 35,000 jobs and was seen as a labor victory for avoiding factory closures
• Union representatives hold most seats on VW's supervisory board and have historically blocked major changes, leading to the ousting of Blume's predecessors in 2022 and 2006
• Analysts cite VW's fundamental challenge as expensive German production competing against faster, cheaper Chinese manufacturing, with questions about whether the company's future lies in Germany or China

The global oil market absorbed the loss of over 1 billion barrels of supply during a four-month conflict stemming from Iran's throttling of the Strait of Hormuz in response to U.S. and Israeli attacks beginning February 28, 2026. While feared shortages never materialized and oil prices have fallen below pre-conflict levels, depleted strategic reserves now leave the world vulnerable to future price spikes with limited buffer capacity.

• The supply disruption peaked at 14 million barrels per day, but was managed through record storage releases (approximately 1 billion barrels globally, including 400 million via IEA coordination), increased Saudi/UAE exports, and reduced Chinese demand due to EV adoption.
• Global oil inventories were drawn down at record pace, draining the buffers designed to protect against supply crises; replenishing these reserves at current prices would cost over $70 billion.
• Despite a preliminary peace deal, energy infrastructure damage will take years to fully repair, and the 60-day ceasefire remains fragile with key issues like Iran's nuclear programme unresolved, leaving markets exposed to volatility without adequate reserve cushions.

Boeing launched a fourth 737 MAX assembly line at its Everett, Washington factory on July 6, 2026, as part of efforts to significantly boost production of its single-aisle jetliner. The new 'North Line' aims to help Boeing reach a target of 52 jets per month by early 2027, recovering from production limits imposed after a January 2024 door plug blowout incident.

• The new line replicates Boeing's three existing 737 assembly lines in Renton and won't contribute to rate increases until early 2027, with Boeing studying potential output of up to 60+ jets monthly
• FAA-imposed production limits following the January 2024 Alaska Airlines 737 MAX 9 midair incident forced Boeing to slow output while addressing quality and safety lapses
• The Everett facility has significant available space after ending 747 production and consolidating 787 assembly, as Boeing competes with Airbus A320neo in a market where airlines face years-long wait times

Airbus has set an internal target of 900 aircraft deliveries for the year after delivering 89 jets in June, though its official guidance remains at 870 deliveries. The strong June performance reflects the company catching up on delayed deliveries to China and benefiting from easing engine supply disruptions.

• Airbus delivered 89 jets in June, marking a significant surge in monthly deliveries
• Internal delivery target of 900 units exceeds official guidance of 870 aircraft for the full year
• Delivery acceleration driven by backlog clearance from delayed China orders and improved engine supply chain conditions

British broadcaster ITV agreed to sell its media and entertainment division to Comcast's Sky for £1.6 billion ($2.13 billion). The deal includes £1.2 billion in cash, an earn-out of up to £200 million tied to 2027 advertising performance, and ITV will retain Love Productions, the maker of 'The Great British Bake Off.'

• Sky, owned by Comcast, is acquiring ITV's media and entertainment unit in a deal valued at up to £1.8 billion including performance-based payments
• ITV will receive £1.2 billion upfront in cash plus a potential £200 million earn-out depending on advertising performance in fiscal year 2027
• Love Productions, producer of 'The Great British Bake Off,' will remain with ITV and join its ITV Studios business rather than transfer to Sky

NATO leaders will convene in Ankara on July 8-9, 2026, amid heightened tensions over U.S. President Trump's demands for increased European defense spending and transatlantic friction regarding the Iran war. The summit will focus on defense burden-shifting from the U.S. to Europe, with leaders from all 32 NATO members attending, including Trump and Ukrainian President Zelenskiy.

• European allies will showcase progress toward a 5% GDP defense spending target by 2035, with 2025 investments increasing by over $139 billion in core defense requirements
• NATO members pledge €70 billion in military aid to Ukraine for 2026, with commitments to sustain equivalent levels in 2027, though the U.S. is not expected to contribute funding
• The summit agenda includes scaling up weapons production through a defense industry forum featuring deals worth tens of billions of dollars, while addressing concerns about Iran's nuclear program and freedom of navigation in the Strait of Hormuz